It's no secret that Carlsbad has recently become a hotbed for high-end research and development (R&D) and corporate headquarter properties, one just needs to drive along Palomar Airport Road.
The Greyhawk Business Center is among those currently under construction and offers businesses a unique opportunity, the chance to own their own facility, rather than lease, in Carlsbad. It is comprised of 28 one- and two-story industrial and R&D buildings available for sale, totaling more than 208,000 square feet. The buildings range in size from 4,000 to 13,500 square feet, which allows for more flexibility for potential buyers. The project is part of the first phase of the Palomar Forum, a new master-planned project located at the northeast corner of Melrose Drive and Palomar Airport Road.
The Greyhawk project is filling a niche market requirement unique to the community. While most projects are being sold in "shell" condition, Greyhawk will provide a completed building to the buyer at the close of escrow. The business park will be maintained by an association, ensuring the buildings, landscaping and parking area will hold its value and appearance.
Greyhawk Business Center is being constructed in two phases. The first phase broke ground in March of this year with completion expected in October. The second phase of the project will consist of nine additional buildings, totaling 81,130 square feet. Groundbreaking for that phase is expected later this year.
Activity has already been substantial with 21 percent of the project in escrow. The marketing team of Karen Fuller, Don Grant and Andy Melzer of Grubb & Ellis|BRE Commercial is pleased with the response so far. Interest from both owner/user and investor buyers has been significant. Fuller said that some of the buyers are office users and will use the warehouse for personal storage while other buyers are primarily research and development users with a light manufacturing or research function in the warehouse. Fuller added the parking ratio for the project allows both office and research development to occupy the buildings.
Amenities at Greyhawk are impressive, and include: 32 percent to 68 percent office build-out of private offices, conference rooms and coffee bars, 3 parking spaces per 1,000 square feet of building area, skylights, an extensive glass line, attractive exteriors and lush landscaping. The office portion of the buildings will be finished in conjunction with Phase I with little or no tenant improvements required.
The 50-acre Palomar Forum Project, which is expected to take three to four years to complete, is located at the northeast corner of Melrose Drive and Palomar Airport Road. With the extensive development and construction around the Melrose Drive/Palomar Airport Road intersection, it will be among the busiest intersections in North County upon its scheduled opening in August of this year.
The master-planned project is a collaboration between Grubb & Ellis|BRE Commercial, who is handling the marketing, and the developer Southern California-based Davis Partners.
Another Davis Partners project in the Palomar Forum is the Palomar Forum Business Park, which will consist of 150,000 square feet in its first phase and will total 270,000 square feet upon completion of its final phase. The multi-tenant business center's units will range in size from 1,000 square feet to 4,000 square feet. The units available in this project will have office improvements of 40 to 100 percent upon completion, and will be for lease only.
"Davis Partners' projects fit well with the Carlsbad business community as it matures," Grant said. "These projects exemplify the high quality and excellent design features that Davis Partners is known for."
In all, Palomar Forum will be a 734,000-square-foot office park consisting of spaces from 800 square feet to 13,380 square feet. There will also be approximately 100,000 square feet of multi-tenant buildings when the project is completed.
The developer, Davis Partners, which was founded in 1976, manages approximately 13 million square feet of commercial real estate valued at over $1 billion, ranging from single-tenant industrial buildings to multi-tenant business parks and office buildings.
The Greyhawk Business Center is among those currently under construction and offers businesses a unique opportunity, the chance to own their own facility, rather than lease, in Carlsbad. It is comprised of 28 one- and two-story industrial and R&D buildings available for sale, totaling more than 208,000 square feet. The buildings range in size from 4,000 to 13,500 square feet, which allows for more flexibility for potential buyers. The project is part of the first phase of the Palomar Forum, a new master-planned project located at the northeast corner of Melrose Drive and Palomar Airport Road.
The Greyhawk project is filling a niche market requirement unique to the community. While most projects are being sold in "shell" condition, Greyhawk will provide a completed building to the buyer at the close of escrow. The business park will be maintained by an association, ensuring the buildings, landscaping and parking area will hold its value and appearance.
Greyhawk Business Center is being constructed in two phases. The first phase broke ground in March of this year with completion expected in October. The second phase of the project will consist of nine additional buildings, totaling 81,130 square feet. Groundbreaking for that phase is expected later this year.
Activity has already been substantial with 21 percent of the project in escrow. The marketing team of Karen Fuller, Don Grant and Andy Melzer of Grubb & Ellis|BRE Commercial is pleased with the response so far. Interest from both owner/user and investor buyers has been significant. Fuller said that some of the buyers are office users and will use the warehouse for personal storage while other buyers are primarily research and development users with a light manufacturing or research function in the warehouse. Fuller added the parking ratio for the project allows both office and research development to occupy the buildings.
Amenities at Greyhawk are impressive, and include: 32 percent to 68 percent office build-out of private offices, conference rooms and coffee bars, 3 parking spaces per 1,000 square feet of building area, skylights, an extensive glass line, attractive exteriors and lush landscaping. The office portion of the buildings will be finished in conjunction with Phase I with little or no tenant improvements required.
The 50-acre Palomar Forum Project, which is expected to take three to four years to complete, is located at the northeast corner of Melrose Drive and Palomar Airport Road. With the extensive development and construction around the Melrose Drive/Palomar Airport Road intersection, it will be among the busiest intersections in North County upon its scheduled opening in August of this year.
The master-planned project is a collaboration between Grubb & Ellis|BRE Commercial, who is handling the marketing, and the developer Southern California-based Davis Partners.
Another Davis Partners project in the Palomar Forum is the Palomar Forum Business Park, which will consist of 150,000 square feet in its first phase and will total 270,000 square feet upon completion of its final phase. The multi-tenant business center's units will range in size from 1,000 square feet to 4,000 square feet. The units available in this project will have office improvements of 40 to 100 percent upon completion, and will be for lease only.
"Davis Partners' projects fit well with the Carlsbad business community as it matures," Grant said. "These projects exemplify the high quality and excellent design features that Davis Partners is known for."
In all, Palomar Forum will be a 734,000-square-foot office park consisting of spaces from 800 square feet to 13,380 square feet. There will also be approximately 100,000 square feet of multi-tenant buildings when the project is completed.
The developer, Davis Partners, which was founded in 1976, manages approximately 13 million square feet of commercial real estate valued at over $1 billion, ranging from single-tenant industrial buildings to multi-tenant business parks and office buildings.